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ATF price cut by sharp 11%

State─owned oil marketing companies (OMCs) on Saturday reduced the aviation turbine fuel (ATF), or jet fuel, prices by 10.90 per cent in New Delhi, reports IANS. Accordingly, jet fuel prices have been cut by INR 8,327.83 in Delhi, and now sells at INR 68,050.97 per kilolitre. Prices vary with airports depending on local taxes.<br><br>Jet fuel per kilolitre now costs INR 73,393.55 in Kolkata, INR 67,979.58 in Mumbai and INR 69,216.61 in Chennai.<br><br>Earlier last week, credit ratings agency ICRA said severely mauled by the twin blows of significant increase in ATF prices and the depreciation of INR against the US dollar, the Indian aviation industry continues to grapple with tough times in the current fiscal.